Reinsurance News

Applied Underwriters expands FL unit

7th January 2021 - Author: Staff Writer

Applied Underwriters has formed a US based division of its Applied Financial Lines business unit.

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The division will provide a variety of Directors & Officers coverages in the US under the direction of newly named division President, Stephen McGill.

Applied Financial Lines’ US operation will be headquartered in New York City.

This news follows Applied’s formation of its Financial Lines enterprise in December 2020.

It will underwrite for several specialty lines in the European Union and in the Middle East, including professional indemnity and Directors & Officers.

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Applied Financial Lines will work with a wholesale broker and local retail agent network throughout the EU, Israel, and other countries in the region.

Jeroen Claesen has been appointed to lead the European Division of Applied Financial Lines, working from the Paris office.

“We have begun to assemble powerful industry resources company wide and now welcome Steve McGill, an accomplished professional, through whom we look forward to serving a growing number of agents and brokers and their clients in the critical D&O sector,” said Steve Menzies, Chief Executive Officer of Applied Underwriters.

McGill noted that the new division’s concentration will prove beneficial to participants in several of its aspects.

“Our initial target business will focus upon D&O liability, both primary and excess,” he said.

“Over time we will add miscellaneous professional liability, and other professional liability segments including architects and engineers, accountants, agents and brokers, and lawyers.

“We have begun to assemble great talent at the front end of the new operation, supported incredibly well by Applied’s substantial operation in Omaha and by its most forward looking leadership.

“Utilizing what I believe is Applied’s ‘best in class’ decision making and collaborative underwriting approach, I am confident that we will have a market force emerging to benefit policyholders, agents and Applied itself as we develop new products and optimum delivery,” he stated.

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